Milestone Aviation Group

Milestone Aviation Group (GECAS)
IndustryAviation
FoundedJune 2010; 14 years ago (2010-06)
FounderRichard Santulli
William Kelly
Daniel Rosenthal
Matthew Harris
Robert Dranitzke
John Burns
HeadquartersDublin, Ireland
Key people
Pat Sheedy, CEO[1]
ServicesAircraft leasing
Number of employees
44
ParentAerCap
Websitemilestoneaviation.com

Milestone Aviation Group, a subsidiary of AerCap, is an aircraft leasing company focused on helicopters. As of December 31, 2021, it owned 355 helicopters, which are leased to companies including CHC Helicopter, Bristow Helicopters, Saudi Aramco, and Babcock International.[2]

The company has international offices in Dublin and Dubai.[3]

History

Milestone Aviation Group was founded in August 2010 by Richard Santulli,[4] who was responsible for the growth of NetJets into a multinational corporation,[5] with a $500 million investment from two private equity companies: Jordan Co. and Nautic Partners LLC.[6]

In August 2012, the company placed one of the largest-ever helicopter orders: 22 aircraft for $682 million, primarily to serve the petroleum industry.[6][7]

In June 2015, the company was acquired by GE Capital Aviation Services for $1.775 billion plus the assumption or payoff of Milestone’s existing debt.[8]

In November 2021, GE Capital Aviation Services was acquired by AerCap.[9][10]

References

  1. ^ "The Team". Milestone Aviation Group.
  2. ^ "AerCap Holdings N.V. 2021 Form 20-F Annual Report". U.S. Securities and Exchange Commission.
  3. ^ "Contact Us". Milestone Aviation Group.
  4. ^ Fredericks, Carey (2014-10-14). "GE Capital to acquire Milestone Aviation". Wings Magazine. Retrieved 2024-05-10.
  5. ^ Burns, Matt (August 4, 2010). "Ex-NetJets boss launches aircraft leasing firm". American City Business Journals.
  6. ^ a b Weese, Evan (October 13, 2014). "Here's how Milestone Aviation grew to $1.8B in 4 years". American City Business Journals.
  7. ^ Cameron, Doug (August 9, 2012). "Big Order Shows Recovery". The Wall Street Journal.
  8. ^ "GE Capital Aviation Services Closes Acquisition of Milestone Aviation Group" (Press release). Business Wire. January 30, 2015.
  9. ^ "AerCap Completes Acquisition of GE Capital Aviation Services from GE" (Press release). PR Newswire. November 1, 2021.
  10. ^ Donnelly, Ellie (November 1, 2021). "AerCap completes acquisition of GE Capital Aviation Services". Irish Independent.